Panasonic to leave consumer smartphones market

Panasonic to leave consumer smartphones market

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Electronics manufacturing giant Panasonic announced on September 26, 2013 that it will put its research into new smartphones for retail consumers at home on hold. The recent decision has been announced by the company as the sector it was planning to enter is dominated by other big names, like Samsung and Apple.

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Panasonic announced its withdrawal from the smartphone market after competitor NEC announced the same just two months ago, in July 2013. The Japan-based company in a statement said, “We will suspend developing new smartphones for the business-to-consumer market in Japan, and instead will pour our business resources into smartphones for the business-to-business market that is expected to grow”.

Corporate smartphones can be used in various businesses – like hospitals and warehouses – where a big number of employees need to share their updated information in large areas. In recent times, competition in the smartphone market has increased significantly and companies other than Apple and Samsung are struggling to remain relevant and offer attractive products.

In July 2013, NEC said that it is planning to abandon its smartphone business altogether and the chief financial officer Isamu Kawashima said that the company was too late to enter the competitive market and it was not possible for it to produce eye-catching and revolutionary devices to its customers.

Photo Credits: Straitstimes